XML 54 R16.htm IDEA: XBRL DOCUMENT v3.20.1
Other Comprehensive Income
 3 Months Ended
Mar. 31, 2020
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
Other Comprehensive Income Other Comprehensive Income
The pretax and related income tax benefit (expense) components of our other comprehensive (loss) income for the three months ended March 31, 2020 and 2019 are included in table 9.1 below.
Components of other comprehensive income (loss)
Table
9.1
 
 
 
 
 
 
Three Months Ended March 31,
(In thousands)
 
2020
 
2019
Net unrealized investment (losses) gains arising during the period
 
$
(91,880
)
 
$
102,621

Income tax benefit (expense)
 
19,295

 
(21,550
)
Net of taxes
 
(72,585
)
 
81,071

 
 
 
 
 
Net changes in benefit plan assets and obligations
 
1,394

 
2,089

Income tax expense
 
(293
)
 
(439
)
Net of taxes
 
1,101

 
1,650

 
 
 
 
 
Total other comprehensive (loss) income
 
(90,486
)
 
104,710

Total income tax benefit (expense)
 
19,002

 
(21,989
)
Total other comprehensive (loss) income, net of tax
 
$
(71,484
)
 
$
82,721



The pretax and related income tax (expense) benefit components of the amounts reclassified from our accumulated other comprehensive income (loss) (“AOCI”) to our consolidated statements of operations for the three months ended March 31, 2020 and 2019 are included in table 9.2 below.
Reclassifications from AOCI
Table
9.2
 
 
 
 
 
 
Three Months Ended March 31,
(In thousands)
 
2020
 
2019
Reclassification adjustment for net realized gains (losses) (1)
 
$
4,714

 
$
(2,679
)
Income tax (expense) benefit
 
(990
)
 
563

Net of taxes
 
3,724

 
(2,116
)
 
 
 
 
 
Reclassification adjustment related to benefit plan assets and obligations (2)
 
(1,394
)
 
(2,089
)
Income tax benefit
 
293

 
439

Net of taxes
 
(1,101
)
 
(1,650
)
 
 
 
 
 
Total reclassifications
 
3,320

 
(4,768
)
Total income tax (expense) benefit
 
(697
)
 
1,002

Total reclassifications, net of tax
 
$
2,623

 
$
(3,766
)

(1) 
Increases (decreases) Net realized investment (losses) gains on the consolidated statements of operations.
(2) 
Decreases (increases) Other underwriting and operating expenses, net on the consolidated statements of operations.

A rollforward of AOCI for the three months ended March 31, 2020, including amounts reclassified from AOCI, are included in table 9.3 below.
Rollforward of AOCI
Table
9.3
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2020
(In thousands)
 
Net unrealized gains and (losses) on available-for-sale securities
 
Net benefit plan assets and (obligations) recognized in shareholders' equity
 
Total accumulated other comprehensive income (loss)
Balance at December 31, 2019, net of tax
 
138,521

 
(65,813
)
 
72,708

Other comprehensive income before reclassifications
 
(68,861
)
 
—

 
(68,861
)
Less: Amounts reclassified from AOCI
 
3,724

 
(1,101
)
 
2,623

Balance, March 31, 2020, net of tax
 
$
65,936

 
$
(64,712
)
 
$
1,224